Chartered Accountancy (CA)
An individual's or an organization's professional practice of auditing, accounting, financial evaluation, and taxation is known as Chartered Accountancy. An accountant who has been recognized as qualified to handle accounting and taxation issues for businesses by a statutory body is referred to as a Chartered Accountant or CA. Under the Scheme of Education and Training, a candidate can take a Chartered Accountancy course either through the Foundation Course Route or the Direct Entry Route.
After Class 12, the establishment course fills in as the section point into the program, though the Immediate Passage choice is for people who have finished their graduation. The CPT route takes 4.5 to 5 years to complete a chartered accounting course, whereas the direct entry route only takes 3 years to complete and become a certified chartered accountant.
The CA foundation course costs INR 9,800, the CA Intermediate course costs INR 18,000 for both groups, the CA Final course costs INR 22,000, and the CA Final course costs INR 13,000 for groups I and II.
CA Course Highlights
The highlights section will provide you with an overview of important aspects related to the chartered accountancy course like duration, course fee, top recruiters, etc.
| Column1 | Column2 |
| Course Type | Part-time |
| Full-Form | Chartered Accountancy |
| Duration | CPT Route (After class 12): 4.5 - 5 years |
| Direct Entry Route (After graduation): 3 years | |
| Age | No minimum or maximum age limit set by ICAI to pursue the CA course. |
| Minimum Percentage | 55% for commerce graduates and 60% for non-commerce graduates (Direct Entry Route) |
| Average Fees Incurred | CA Foundation Course Fee: INR 9800 |
| CA Intermediate Course Fee: INR 18,000 (Both groups), INR 13,000 (Group I/ II) | |
| CA Final Course Fee: INR 22,000 | |
| Average Salary Offered | INR 4 LPA - INR 20 LPA |
| Employment Roles | Accountant, Financial Manager, Banker, Taxation Consultant, Consultant and more |
Who ought to run CA?
The chartered accounting program is not for the faint of heart. It requires extensive study, a challenging articleship that lasts between 3.5 and 4 years, and challenging exams. You should only pursue this qualification if you are reasonably confident in your ability to devote the required amount of time and effort to the course. Taking this class is good for your career if:
• You're thinking about a career in accounting, taxation, or auditing. By definition, accountants are in charge of a business's accounting, tax, legal, and auditing needs. If this piques your interest, there is no need to look any further. You can specialize in direct and indirect taxes, accounting, taxation, financial consulting, tax audits, and more as a chartered accountant.
• You're considering a career in corporate finance, which includes things like managing a company's finances, fundraising, project financing, and treasury. are all a part of business finance. This is a challenging and interesting job, and chartered accountants almost always get these positions in India. By delegating the creation of financial statements and other accounting-related responsibilities, a CA can significantly contribute to corporate finance.
• You enjoy finance and accounting, but you aren't sure which area of finance you want to focus on. Despite the fact that you aren't sure which area of finance you want to work in, you are interested in doing so. CA is a very secure option if you have the perseverance to complete the course. Due to the low passing rate, passing the exam is challenging. The chartered accountancy curriculum provides a substantial return on investment, despite the fact that there are numerous opportunities in this situation. The compensation scale is excellent and the investment is minimal in comparison to other finance programs in India.
• You wish to establish your own business It should come as no surprise that you will require this course in order to establish your own CA practice. As indicated by the relevant regulations and guidelines of India, a contracted bookkeeper is legitimately allowed to direct reviews. For instance, only licensed chartered accountants can audit a company's financial records and tax returns in order to be eligible for statutory audits. In India, chartered accountancy is therefore a popular degree.
• Every aspect of the course is extremely stressful and demanding. Before enrolling in this class, students should therefore assess their aptitude and interests. Time management is absolutely necessary for students because they must complete demanding articleships while studying. Therefore, this course should only be taken by people who are truly interested in accounting and taxes.
Chartered Accountancy Course Eligibility Criteria
The chartered accountancy foundation course's eligibility requirements are as follows:
• Students may enroll in the course if they have passed the class ten exam administered by an organization that is legally recognized in India or if they have taken an exam that the Central Government deems to be equivalent.
• Students are eligible to take the CA Foundation Examination if they pass the 10+2 exam from a body established by law in India or another examination recognized by the Central Government as comparable.
• After four months of study from the date of enrollment, candidates will be eligible for the chartered accountant foundation exam.
• Students who register by January 1 or July 1 each year are eligible to take the exams in May and November.
• For those who are interested in enrolling in the CA Foundation program, the ICAI does not place any age restrictions on applicants.
Eligibility Requirements for the CA Direct Entry Route:
• Commerce Graduates/Postgraduates with at least a 55% aggregate or equivalent score may apply for this entry route in order to receive direct admission to the CA Intermediate program.
• Accounting, auditing, corporate law, taxation (including direct and indirect tax laws), costing, economics, management (including financial management), business administration, or management accounting are all required of them.
• Any recognized university examination, including Open University, must have yielded a minimum aggregate grade of 60% for non-commerce graduates and postgraduates.
Some Exemptions:
• Candidates who have passed the Institute of Company Secretaries of India's Intermediate level examinations are eligible for direct entry.
• Candidates who have passed the Institute of Cost Accountants of India's Intermediate exam are also eligible for direct entry.
• These candidates can enroll directly in the Intermediate course and do not need to qualify for the Foundation course.
• Candidates in their final year of school may also submit a provisional application for the Intermediate course.
• After successfully completing ICITSS (Orientation Course and Information Technology) and submitting final year mark sheets or passing certificates within six months, these candidates' registration would be regularized.
• During the provisional registration period (Orientation Course and Information Technology), a candidate can take and complete the ICITSS.
Chartered Accountancy Admission Process
Candidates need to be familiar with the in-depth admissions procedure for the chartered accounting program. For each level of the CA course, different selection routes are used.
The Foundation route and the direct entry route are the two main paths that candidates can take to become Chartered Accountants. The Chartered Accountancy Selection Process and Structure The steps necessary to become a chartered accountant are as follows:
Through Foundation Route
The following are the foundation route steps to becoming a certified chartered accountant:
• Enroll in the Foundation Course after passing the Class 10th Exam, which is administered by an examining body established by law in India or an Exam recognized by the Central Government as Equivalent Thereto.
• For the test to be held in the long stretches of May/June or November/December, separately, register for the Establishment Course by the main day of January or the primary day of July, whichever starts things out.
• After satisfying (ii) above and passing the Senior Secondary Examination (10+2) administered by an examination body established by law in India or an examination deemed equivalent thereto, you can apply for the Foundation Examination.
• Enroll in the Intermediate Course after passing the Foundation Exam and the 12th grade.
• Sign up for the four-week Integrated Course on Information Technology and Soft Skills (ICITSS), which includes orientation and information technology classes, as soon as possible. However, they must successfully complete these courses before beginning their articleship.
• After completing the eight-month course, take the intermediate exam on the first day of the month for which it is scheduled.
• In the wake of getting one or the two gatherings free from the middle of the road course and finishing the ICITSS agreeably, sign up for articled preparing.
• Clear the leftover Gathering of the Halfway Assessment, if any.
• Register for the final course Successfully complete the four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), which consists of courses on Advanced Information Technology and Management Communication Skills, during the final two years of practical training but prior to taking the final exam.
• On or before the last day of the month preceding the month in which the test is to be held, appear in the final examination following successful completion of AICITSS either upon completion of practical training or while serving the final six months of articled training.
• Complete the articled instruction for three years.
• Become a "Chartered Accountant" by passing the CA final exam and becoming an ICAI member.
Through Direct-Entry Route I)
• For Commerce Graduates and Postgraduates with a minimum of 55% or Other Graduates and Postgraduates with a minimum of 60%:
• Participate in an intermediate course at the institute Prior to beginning their articleship, participants must complete a four-week Integrated Course on Information Technology and Soft Skills (ICITSS), which includes Information Technology Courses and Orientation.
• Sign up for the practical training program that lasts for three years.
• Attend the intermediate exam on the first day of the month in which the exam is scheduled after completing the nine months of practical training.
• Attend both groups of the intermediate exam and pass both of them.
• Take the final course for chartered accountants.
• Before appearing for the final exam, successfully complete the four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), which consists of classes on advanced IT and management communication skills.
• On or before the last day of the month preceding the month in which the test is to be held, appear in the final examination following successful completion of AICITSS either upon completion of practical training or while serving the final six months of articled training.
• Complete the articled instruction for three years.
• Finish the CA last test of the year.
• Enroll as an ICAI member to become a "Chartered Accountant."
II) Candidates who have passed the Institute of Cost Accountants of India or Institute of Company Secretaries of India Intermediate level exam:
• Take a course at the Institute for intermediate students.
• Before beginning their articleship, they must complete a four-week Integrated Course on Information Technology and Soft Skills (ICITSS). This course comprises of data innovation courses and a direction course.
• Attend the intermediate exam after having studied for the required eight months as of the first day of the month in which the exam is scheduled.
• Enroll in articled training after passing one or both intermediate course groups and the ICITSS successfully.
• If there are any remaining groups on the intermediate exam, pass them.
• Sign up for the CA Last course
• During the last two years of down to earth preparing, yet before taking the last assessment, effectively complete the four-week Progressed Incorporated Seminar on Data Innovation and Delicate Abilities (AICITSS), which comprises of seminars on Cutting edge Data Innovation and The executives Relational abilities.
• On or before the last day of the month preceding the month in which the test is to be held, appear in the final examination following successful completion of AICITSS either upon completion of practical training or while serving the final six months of articled training.
• Complete the article training for three years.
• Take the CA Final Exam and pass it.
• Enroll as an ICAI member to become a "Chartered Accountant."
Course Levels of Chartered Accountancy
The chartered accountancy exams are administered by the Institute of Chartered Accountants of India (ICAI), and after completing the three-level course, candidates are recognized as qualified Chartered Accountants.
The Common Proficiency Test, also known as the Foundation exam, is the first level of testing for the chartered accountancy course, followed by the Intermediate and Final exams. The Chartered Accountancy qualification consists of the following exams:
• the CA Foundation Exam (previously known as the Common Proficiency Test or CPT)
• the CA Intermediate (IPC or Integrated Professional Competence) the CA Final In May and November of each year, the CA Foundation, Intermediate (IPC), and
• Final exams are given.
A student must also complete three years of practical training, also known as an "Articleship," in addition to these exams.
Skills Required to Become a Chartered Accountant
Aspirants must take a quick look at the important skills that one must have to become a CA:
• Deliverance and perseverance
• Inclination for numbers
• Understanding of concepts
• Analytical abilities
• Budget management
• In-depth knowledge of financial accounting and controlling
• Understanding of financial reporting
• Knowledge of tax consulting
• Evaluation and management auditing
Advanced Courses After Chartered Accountancy
When an aspirant combines the knowledge gained through CA subjects with other advanced courses, they can have an advantage over different roles in an organization and add more value to the organization.
A few of the top trending advanced courses or studies that students can opt for after completing a CA course in 2022 are as follows:
• Investment Banking
• Chartered Financial Analyst (CFA)
• Bachelors of Law (LLB)
• Financial Risk Management (FRM)
• MBA in Finance
• Cost and Work Accountants (CWA)
• Certified Public Accountant (CPA)
• Company Secretary (CS)
Chartered Accountancy Scope in India
Chartered accountants are one of the most sought-after professions in the financial sector. They monitor and maintain a company's financial health. As business consultants who assist in the creation of financial reports, the acquisition of loans, the creation of financial predictions, the demonstration of the means by which the loans will be repaid, and the assessment of the viability of businesses, Chartered Accountants hold key positions in both the public and private sectors. In addition, the CA represents its client in front of various government bodies and helps them comply with tax regulations.
The following are a few examples of the major areas of expertise and responsibilities that chartered accountants perform in both the public and private sectors:
• They might assume the role of an accountant and manage the company's records book data.
• In the finance division, they might carry out the duties of a general manager.
• They can review the public authority.
• They could have worked in government banks as finance managers.
• They were able to carry out the responsibilities of assistant administrative officers.
• They will be in charge of loans and advances in government banks.
• CAs can either start their own independent practice or choose their clients solely based on merit.
• They might also be interested in working for an established company as a Chartered Accountant.
• They might also offer their assistance to the stock market.
• There is a demand for CA specialists with the goal of analysis in the banks as well, as the government lends money to startups.
• The company's ability to make timely decisions and generate revenue may depend on the CA.
CA Course Fees
The CA course fee for the foundation, intermediate, and final course levels are mentioned below:
CA Foundation Course Fee
| Fee Details | Fee (in INR) | Fee for Foreign Students (in USD) |
| Prospectus Cost | 200 | 20 |
| Foundation Registration Fee | 9000 | 700 |
| Students’ Journal Subscription (for 1 year) - Optional | 200 | 20 |
| Members’ Journal Subscription (for 1 year) - Optional | 400 | 40 |
| Total Fee | 9800 | 780 |
CA Intermediate Course Fee
| Fee Details | Both Groups (in INR) | Both Groups (in USD) | Group I/ II (in INR) | Group I/ II (in USD) |
| Registration Fee | 15000 | 11000 | ||
| Students’ Activities Fee | 2000 | 2000 (one time payment) | ||
| Registration Fee (as Articled Assistant) | 1000 | |||
| Total Fee | 1000 | 13000 | 600 | |
Note: The cost of prospectus i.e INR 200 (or $20) to be paid by direct entry students in addition to the above fees.
CA Final Course Fee
| Fee Details | For Indian Students (in INR) | For Foreign Students (in USD) |
| Final Registration Cost (without article) | 22000 | 1100 |
CA Course Syllabus
To become a successful Chartered Accountant, the candidates must be aware of the subjects and syllabus for the CA course to prepare confidently for the exams.
Here we have mentioned the subjects and syllabus for all three levels of the chartered accountancy course.
| Column1 | Column2 | Column3 |
| Level | Subjects | Marking Scheme |
| CA Foundation | · Principles and Practices of Accounting | 100 Marks each [400 Marks Total] |
| · Business Law & Business Correspondence and Reporting | ||
| · Business Mathematics and Logical Reasoning & Statistics | ||
| · Business Economics & Business and Commercial Knowledge | ||
| CA IPCC | · Accounting | 100 Marks each [800 Marks Total] |
| · Corporate and Other Laws | ||
| · Cost Accounting and Financial Management | ||
| · Taxation | ||
| · Auditing and Assurance | ||
| · Enterprise Information System & Strategic Management | ||
| · Advanced Accounting | ||
| · Financial Management & Economics for Finance | ||
| CA Final | · Financial Reporting | 100 Marks each [800 Marks Total] |
| · Strategic Financial Management | ||
| · Corporate Laws and Economic Laws | ||
| · Advanced Auditing and Professional Ethics | ||
| · Strategic Cost Management and Performance Evaluation | ||
| · Electives | ||
| · Direct Tax Laws and International Taxation | ||
| · Indirect Tax Laws | ||
Chartered Accountant Salary in India
The following table provides the average annual salary of a CA based on various job profiles.
| Column1 | Column2 |
| Job Profile | Average Annual Salary (INR) |
| Finance Officer | 5 - 10 LPA |
| Accountant | 4 - 10 LPA |
| Finance Controller | 6 - 22 LPA |
| Accounting Manager | 5 - 15 LPA |
| Finance Manager | 4.5 - 30 LPA |